Use three of the five terms below to complete the explanation for economic goods - Leaving Cert Economics - Question 9 - 2018
Question 9
Use three of the five terms below to complete the explanation for economic goods.
Economic goods require the use of ________________________ to produce them and so ... show full transcript
Worked Solution & Example Answer:Use three of the five terms below to complete the explanation for economic goods - Leaving Cert Economics - Question 9 - 2018
Step 1
Economic goods require the use of ____________
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Answer
Economic goods require the use of scarce resources to produce them and so their use has an
Step 2
their use has an ____________
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Answer
opportunity cost. Such goods command a
Step 3
Such goods command a ____________ in the marketplace.
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Answer
price in the marketplace.
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